According to the DFC webpage, this investment will support loans to financial intermediaries that will lend to MSMEs in 55 different countries where FMO and DFC operate.
According to the SME Finance Forum, the MSME financing gap in these markets is estimated to be in excess of $691 billion, of which $531 billion is comprised of the SME gap. Collectively the 55 countries where borrowers of the Facility lend are classified on average as lower-middle income. In addition, half of the loans from the Facility are expected to support lending to women MSMEs, for which the financing gap in these same markets is estimated to be $73 billion.
The proposed DFF loan is for $50 million USD.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|FMO||Parent Company||Finance||owns||MASSIF FUND||Client||Finance|
Project contacts not available at the time of disclosure.
ACCESS TO INFORMATION
Unlike many other development finance institutions, DFC does not currently have an access to information policy.
Under the United States Freedom of Information Act (FOIA), DFC is obliged to respond to reasonably formulated requests for Agency records. However, DFC may apply exemptions from release to certain types of information and may charge fees in responding to requests. DFC has a designated FOIA officer who is trained in how to respond to requests and implement the law. You can learn more about filing a FOIA request at: https://www.dfc.gov/foia
ACCOUNTABILITY MECHANISM OF THE UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION (DFC)
The Office of Accountability is an independent office that addresses complaints about environmental or social issues related to DFC-supported projects. The office provides communities an opportunity to have concerns independently reviewed and addressed. If you submit a complaint to the Office of Accountability, it may assist you by either seeking to address your problems by facilitating a problem solving dialogue between you and those implementing the project and/or investigating whether the DFC complied with its policies to prevent environmental, social, human rights, and labor harms.
You can find more information about the Office of Accountability at: https://www.dfc.gov/who-we-are/office-accountability